** Shares of biopharmaceutical company Legend Biotech LEGN.O slip 5.6% to $29.33 after at least two brokerages cut PT following Q1 results
** Truist cuts PT to $71 from $88; says co's multiple myeloma cancer drug Carvykti's U.S. growth was slower with manufacturing facility in partnership with Novartis AG NOVN.S needing time to ramp up
** "(LEGN has) the most efficacious cell therapy approved, and while there is a strong competitor in the clinic, the market is big enough to support multiple new modalities" - Truist
** RBC cuts PT to $78 from $84, retains "outperform" rating saying they see potential for supply to outstrip demand in 2026
** Co reports Q1 revenue of $195.1 mln and adj EPS loss of 7 cents vs analysts' estimates of $193.6 mln and adj. loss of 23 cents per share - LSEG data
** 22 out of 24 analysts rate stock as buy, two hold; median PT is $78
** Including session's move, LEGN down 9.7% YTD vs Nasdaq Biotechnology Index's .NBI decline of 7.9%
(Reporting by Twesha Dikshit)
((Twesha.Dikshit@thomsonreuters.com))
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